Median prices in San Francisco’s South of Market neighborhoods
This week Paragon released reports on current median prices in some of San Francisco’s most popular neighborhoods. This article focuses on median condo values in our most dense districts South of Market (SOMA)
SOMA’s collection of smaller micro-neighborhoods run “South of the Slot” (aka Market Street) from the Ferry Building to about 12th Street. As new development has taken hold in these areas, each district is distinguished by particular landmarks and its own unique character.
South Beach is where much of the new development began, with buildings like The Brannan, Baycrest and The Portside. This area is best known for its sweeping waterfront views, and wide open spaces although newer high rises (like Infinity and Lumina) are delivering a higher level of density and adding vibrance to the area. Other housing options are in brick-and-timber lofts in converted warehouses on Bryant, Delancey, Beale and Spear Streets. There are also some options for real estate market newbies here, as the smaller apartment condos go for smaller prices.
Yerba Buena is the most area’s most walkable neighborhood in the area as it is anchored by the Yerba Buena Gardens and Center for the Arts. There are movie theaters, the Westfield Shopping Center, multiple restaurants and a Whole Foods all within a four block area. A bike lane runs down Folsom Street and a new underground muni stop at the corner of 4th and Folsom is bound to the neighborhood even more attention. Condo options in this district can run from “old school” at Museum Parc to sparkling mid-rise buildings like 829 Folsom. Other sexy high-rise options lie along the Montgomery Street and Second Street corridors in buildings like 199 Montgomery, 246 2nd Street or One Hawthorne.
The SOMA District “proper” might be called the most gritty among these areas with broad streets and lots of traffic. Warehouses predominate in this area, interspersed with newer condo and apartment construction from the 1990s (along with some warehouse conversions at 1097 Howard and 380 10th Street). Those who go for SOMA condos are often attracted to the loft-style architecture which is a common option on this neighborhood. An exception to the rule is the SOMA Grand at 1160 Mission and The Palms at 555 4th Street, two larger, luxury condo buildings that offer top-of-the-line amenities and excellent access to public BART and the CalTrain.
The Mission Bay neighborhood is still in its nascence with only a handful of residential buildings completed in the broad swath of land just south of the Lefty O’Doul Bridge. The more established portions of Mission Bay lie along King, Berry, Townsend and 2nd Streets in buildings like the Arterra (at 300 Berry) and 170 Off Third (at 170 Townsend). Many of these buildings are within a stone’s throw of the Giants Ball Park, which can be a good or bad thing depending on how you like crowds and/or baseball.